In Bootleggers & Baptists: How Economic Forces and Moral Persuasion Interact to Shape Regulatory Politics, economists Bruce Yandle and Adam Smith explain how money and morality are often combined in politics to produce arbitrary regulations benefiting cronies, while constraining productive economic activities by the general public.
Protectionism is rising. The stakes for prosperity couldn’t be higher. On C-SPAN’s Washington Journal, Daniel Griswold discussed the virtues of free trade. Griswold is author of Mad About Trade and serves as director of the Cato Institute’s Center for Trade Policy Studies.